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New Mining law is in Pipeline
   

The union cabinet is planning to introduce new mining law by repealing the existing Mines and Minerals (Development and Regulation) act, 1957.The new law will provide more rights to tribal in starting and leaving the mining activity


And also providing 1000 crore annually to 60 tribal dominated districts in Jharkhand, Chhattis garh, Orissa, madya pradesh and Karnataka.each district is getting 180 crore every year.24 ditricts among 60 are badly effected by Naxal  violence.


Under this law the the coal companies must direct 25% of the profit (Post Tax) to Fund. And also the cabinet is planning to approve District level mining foundations.

The new law will be more generous towards tribal people and says they should be

 consulted before issuing the license to the private parties. The new bill may be introduced in the next session of parliament.

 



Fri 30 Sep, 2011,12:29:56 PM


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